Edition:
United Kingdom

Christopher Whittall

High-yield trader nets Credit Suisse US$120m as rivals struggle

17 Jan 2020

* Senior traders depart JP Morgan and Citigroup, as choppy market picks winners

Forget CDS: equity-default swaps return

21 Oct 2019

Oct 18 (IFR) - A rare and risky form of derivative insuring against stock market crashes is staging a comeback, as banks dust off the pre-crisis playbook in search of ideas to present to yield-hungry investors.

SG pull-back poses questions for CDS market

04 Oct 2019

Oct 3 (IFR) - Societe Generale is paring back credit-default swap trading as part of the overhaul of its investment bank, a move that is sending ripples through the credit derivatives industry where the French lender played an important role until recently.

REFILE-Deutsche Bank's bold gambit: betting big on private credit

30 Sep 2019

* Illiquid positions in private credit: risky, perhaps; profitable, definitely

RPT-Rallye debt losses burn JP Morgan and HSBC

12 Jun 2019

June 12 (IFR) - The pick-up in European corporate defaults continues to weigh on bank trading desks this quarter, with JP Morgan and HSBC on the hook for sizeable losses after French holding company Rallye entered bankruptcy protection last month.

Sales of risky equity products boom despite recent bank losses

28 May 2019

May 28 (IFR) - Sales of structured products are booming again in a key region for these complex, equity-linked securities, just months after banks reported hefty losses from this kind of activity when markets slumped in late 2018.

Next frontier for credit traders: shorting volatility

17 May 2019

May 16 (IFR) - Betting on markets remaining calm has long been a popular, though risky, trade in finance. Now, a growing number of banks is looking to bring such strategies to corporate credit markets, the last major asset class where so-called short volatility trades are rare.

New CDS nearly halves Deutsche Bank default protection costs

13 May 2019

May 13 (IFR) - The cost of default protection on Deutsche Bank nearly halved on Monday following the introduction of new derivatives contracts used to insure against German bank debt defaults.

MOVES-Morgan Stanley bolsters rates trading as rivals struggle

01 May 2019

LONDON, May 1 (IFR) - Morgan Stanley is hiring several people in its interest rates trading unit in Europe, a rare sign of an investment bank adding headcount in the increasingly under-pressure fixed income business.

RPT-Banks, investors pile back into synthetic CDOs

29 Apr 2019

* Banks add synthetic CDO traders to cater for expanding market

World News

Trump adds legal heavyweights Starr, Dershowitz to impeachment team

President Donald Trump turned to some legal heavyweights to help defend him in his Senate impeachment trial with the addition on Friday of former independent counsel Ken Starr, who paved the way for former President Bill Clinton's 1998 impeachment, and prominent lawyer Alan Dershowitz.